General Electric (GE) has agreed to invest in a 42MW solar power project in Japan.

The solar farm in Futtsu City, around 67 kilometres southeast of Tokyo, is also backed by Japanese renewable energy developer Green Power Investment (GPI) and four banks led by the Bank of Tokyo Mitsubishi UFJ.

The financial details were however not disclosed.

Sushil Verma, Head of Asia Pacific at GE Energy Financial Services said: “The Futtsu project supports our renewable energy and international growth objectives through the formation of a new relationship with GPI and expansion of our network to additional partners in the country.”

The solar project is expected to start producing power next January.

GE Energy Financial Services unit has committed $1.9 billion (£1.3bn) to support almost 2GW of solar projects worldwide and intends to invest about $1 billion (£0.7bn) every year in renewable energy.